iPartners Grow Your Wealth Podcast - From Carlyle to Collinton: Private Equity, Duopolies, and Winning in Tough Markets with Simon Moore

In this episode of the iPartners Grow Your Wealth podcast, host Travis Miller, co-founder of iPartners, sits down with Simon Moore, Senior Partner and founder of Collinton Capital Partners.

From his Queensland roots to JPMorgan in New York, Investcorp in the Middle East, and launching The Carlyle Group’s Australian office, Simon unpacks global lessons in private equity. He explains why Australia is the “land of the duopoly,” the traps Aussie companies face expanding to the U.S., and how rigorous diligence, co-investor scrutiny, and pattern recognition drive outsized results. Simon also shares the story behind a cleaning-services deal that delivered a 5x return, insights from recent transactions, and practical advice on resilience, networking, and long-term wealth building. This episode is a must-listen for investors and operators navigating competitive markets and non-linear career paths.

In this episode of the iPartners Grow Your Wealth podcast, host Travis Miller sits down with Simon Moore, founder and senior partner of Colinton Capital Partners, for an insightful discussion spanning global private equity, entrepreneurship, investment discipline and the lessons learned from building businesses across multiple market cycles. Drawing on a career that has taken him from Brisbane to New York, the Middle East and back to Australia, Simon shares how experiences at JP Morgan, Investcorp and Carlyle shaped his philosophy around investing, leadership and long-term wealth creation. Throughout the conversation, the role of patience, resilience and pattern recognition emerges as a recurring theme, offering valuable lessons for investors and business leaders alike.

Growing Beyond Australia’s Borders: Growing up in Brisbane, Simon balanced academic achievement with elite sporting pursuits before embarking on a career in investment banking with JP Morgan. The opportunity to relocate to New York opened the door to a global network and exposure to world-class training, experiences that proved transformative. Spending nearly fifteen years overseas highlighted the importance of understanding international markets and reinforced the value of stepping outside familiar environments to broaden perspective and capability.

The Power of Networks and Lifelong Relationships: One of the enduring themes from Simon’s career has been the importance of relationships. Connections formed during graduate programs, university years and early professional life have remained valuable decades later. Strong networks have provided friendship, business opportunities and access to ideas and insights across industries and continents. The conversation highlights that long-term success is rarely achieved alone, and investing time in relationships often produces returns that extend far beyond financial outcomes.

Building Colinton Capital Partners with Conviction: After helping establish Carlyle’s Australian business and participating in successful investments including Coates Hire, Healthscope and Qube Logistics, Simon recognised an opportunity that larger firms were increasingly overlooking. Rather than competing for a shrinking pool of large transactions, he saw value in focusing on businesses with enterprise values between $50 million and $150 million. Launching Colinton Capital Partners in 2017 required leaving behind an established global platform and backing a strategy built around helping quality businesses reach their next stage of growth. The decision reflected a willingness to embrace entrepreneurship and trust long-held convictions.

Understanding Australia’s Unique Competitive Landscape: Simon describes Australia as “the land of the duopoly”, where many industries are dominated by two major players and a smaller competitor. This dynamic can create a misleading sense of competitive strength for Australian businesses seeking expansion into larger markets such as the United States. Companies often encounter entirely different competitive structures overseas, where numerous well-capitalised players operate with scale and regional dominance. The discussion highlights why international expansion requires a clear understanding of competitive advantage rather than assumptions built on domestic success.

The Importance of Mentors and Influences: Family, teachers and professional mentors all played important roles in shaping Simon’s outlook. His father encouraged him to think globally and pursue opportunities beyond Australia, while influential professors at the University of Queensland established strong foundations in finance. Within JP Morgan and later Carlyle, senior leaders provided sponsorship, guidance and examples of thoughtful leadership. Exposure to highly accomplished individuals reinforced the importance of surrounding oneself with talented people and learning from those who have already travelled the path.

Private Equity as a Daily Exercise in Problem Solving: Life in private equity is rarely linear. Each day presents a combination of opportunities to pursue and problems to solve, requiring discipline and adaptability. Simon emphasises the value of maintaining structure, beginning each morning with a clear list of priorities and approaching challenges methodically. Early morning exercise provides time to think through problems and prepare for the day ahead. Success comes not from avoiding setbacks but from consistently making progress, solving issues and maintaining focus on long-term objectives.

Resilience and the Reality of Entrepreneurship: Starting a business or pursuing any meaningful goal requires accepting that the original plan will almost certainly change. Simon stresses the importance of setting a destination while remaining flexible about the route. Markets evolve, circumstances shift and new opportunities emerge. Those who persist and adapt ultimately give themselves the greatest chance of success. As both Travis Miller and Simon reflect, businesses rarely travel from A to B in a straight line, and the ability to zig and zag without losing sight of the destination is often what separates successful entrepreneurs from the rest.

Learning Through Pattern Recognition and Mistakes: Experience builds something that cannot easily be taught in books: pattern recognition. Over time, investors develop the ability to identify risks, opportunities and warning signs almost instinctively. Failed investments and difficult experiences become valuable teachers, creating new guardrails and sharpening judgement. Simon explains that younger professionals often want to accelerate this process, but many lessons simply require repetition and time. Encouraging open debate and exposing junior team members to investment discussions helps develop the intuition that eventually distinguishes exceptional investors.

Finding Value Where Others See Complexity: One of Simon’s proudest investment successes came through Dimeo Cleaning Services, a business many investors dismissed because of perceptions around the industry. Thorough diligence and an understanding of what made the company exceptional provided the confidence to proceed. Five years later, earnings had almost tripled and the investment delivered approximately five times the original capital. The experience reinforced an important lesson: opportunities often emerge where others are unwilling to do the work. Attractive valuations are frequently created by complexity, indifference or misconceptions rather than obvious growth stories.

Success is Not Defined by Linear Paths: Reflecting on his younger self, Simon encourages people to back themselves, remain resilient and keep an open mind. There is no single formula for success, and many accomplished individuals have followed unconventional routes. The obsession with predefined pathways often overlooks the reality that careers are shaped by circumstances, relationships and unexpected opportunities. Maintaining focus on long-term goals while remaining adaptable allows people to navigate the inevitable twists and turns that accompany professional and personal growth.

Balancing Technical Excellence with Human Skills: Despite rapid advances in artificial intelligence and technology, Simon believes soft skills remain indispensable. Success in investing and business depends not only on analytical capability but also on communication, empathy and the ability to bring people along with a shared vision. The most effective professionals combine strong technical foundations with emotional intelligence and interpersonal skills. Whether evaluating management teams or leading organisations, understanding people remains one of the most important competitive advantages.

Building Long-Term Wealth Through Patience and Consistency: Throughout this episode of the iPartners Grow Your Wealth podcast, Simon repeatedly returns to the importance of patience and conviction. Long-term wealth is created by understanding investments, remaining disciplined and resisting the temptation to constantly change direction. Investors often undermine themselves by abandoning strategies too early or losing confidence during periods of uncertainty. Success, both financially and personally, comes from perseverance, consistency and maintaining a clear view of what matters most. As Travis Miller and the iPartners team continue to explore the lessons of experienced investors, this conversation provides a powerful reminder that wealth creation is ultimately a marathon, not a sprint.

This Episodes Guest: 

Simon Moore

Episode Host: Travis Miller